RTTNews | Feb 24, 2021 10:00AM EST

10:00 Wednesday, February 24, 2021 (RTTNews.com) - Shares of PubMatic Inc. (PUBM) reached a new 52-week high of $62.84 Wednesday morning, and are currently trading at $60.56, up $14.40 or 31.21%, after the company issued upbeat Q1, FY21 revenue guidance, while reporting stellar Q4 results. Trading volume is rising over 604K versus an average volume of 846K shares.

For the first quarter 2021, the company expects revenue to be in the range of $38.0 million - $40.0 million, representing growth of 34% - 41% over Q1 2020. PubMatic also sees adjusted EBITDA in the range of $8.0 million - $9.0 million, or 21% - 23% margin. Four Wall Street analysts have a consensus revenue estimate of $35.19 million for the quarter.

For the full year 2021, the company projects revenue in the range of $180.0 million - $185.0 million representing growth of 21% - 24% over 2020. The company expects adjusted EBITDA to be in the range of $45.0 million - $49.0 million or 25% - 27% margin. Analysts look for revenue of $172.46 million for 2021.

Q4 Results

The company's Q4 net income surged to $18.8 million or $0.34 per share from $4.12 million or $0.06 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.30 per share for the quarter. Analysts' estimate typically exclude certain special items. Adjusted EBITDA was $26.9 million, a 190% jump over $9.3 million in the same period of 2019.

Revenue for the quarter totaled $56.2 million, 64% higher than the previous year's revenue of $34.4 million, driven by strength across a number of advertising verticals including eCommerce, Technology, Personal Finance and robust omnichannel video growth including OTT/CTV.

Read the original article on RTTNews ( https://www.rttnews.com/3172446/stock-alert-pubmatic-shares-hit-new-52-week-high.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved